{"id":195172,"date":"2023-12-03T01:30:00","date_gmt":"2023-12-03T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=195172"},"modified":"2023-12-02T04:30:00","modified_gmt":"2023-12-02T12:30:00","slug":"emini-strong-reversal","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-strong-reversal\/","title":{"rendered":"Emini Strong Reversal"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: S&amp;P 500 Emini Futures<\/h2>\n\n\n\n<p>The market formed an Emini strong reversal on the Monthly chart, reversing the majority of the selloff of the prior 3 months. The next targets for the bulls are the July 27 high and the all-time high. The bears see the current rally as a retest of the July 27 high and want a reversal from a lower high major trend reversal or a double top.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Monthly<\/em> Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through-680x383.jpg\" alt=\"Emini Strong Reversal, Emini Monthly: Strong Bull Reversal, Bulls Need Follow-through\" class=\"wp-image-195252\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Monthly-Strong-Bull-Reversal-Bulls-Need-Follow-through.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<a href=\"https:\/\/www.investing.com\/indices\/us-spx-500-futures\" target=\"_blank\" rel=\"noreferrer noopener\">November monthly Emini candlestick<\/a>&nbsp;was a big bull bar closing near its high and above the October high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-climactic-reversal\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last month<\/a>, we said that the bull trend remains intact (higher highs, higher lows). If November closes as a bull bar near its high and above October\u2019s high, that will increase the odds of the bull trend resuming.<\/li>\n\n\n\n<li>The bears see the current rally as a retest of the July 27 high and want a reversal from a lower high major trend reversal or a double top.<\/li>\n\n\n\n<li>They want a larger second leg down (with the first leg being the July to October pullback) and a retest of the October low.<\/li>\n\n\n\n<li>Because of the strong rally in November, they will need a strong signal bar before traders would be willing to sell more aggressively.<\/li>\n\n\n\n<li>Previously, the bulls managed to create a tight bull channel from March to July.&nbsp;<\/li>\n\n\n\n<li>That increases the odds of at least a small second leg sideways to up after the recent pullback (Jul to Oct). The second leg up is currently underway.<\/li>\n\n\n\n<li>They got a reversal from a trend channel line overshoot (Oct) and a higher low major trend reversal.<\/li>\n\n\n\n<li>They want a retest of the July 27 high and the all-time high followed by a breakout above.&nbsp;<\/li>\n\n\n\n<li>They hope that the current rally will lead to a multi-month rally, similar to the candlestick in November 2020.<\/li>\n\n\n\n<li>They will need to create a follow-through bull bar in December to increase the odds of the bull trend resuming.<\/li>\n\n\n\n<li>Since November is a big bull bar trading near its high, it is a buy signal bar for December.<\/li>\n\n\n\n<li>Odds slightly favor December to trade at least a little higher. The July 27 high is close enough and likely to be tested.<\/li>\n\n\n\n<li>If the bulls get a follow-through bull bar closing above the July 27 high, it will increase the odds of a retest of the all-time high.<\/li>\n\n\n\n<li>For now, the bull trend remains intact (higher highs, higher lows). This remains true.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> S&amp;P 500 Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike-680x383.jpg\" alt=\"Emini Weekly: 6-Bar Bull Microchannel, Strong Spike\" class=\"wp-image-195255\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.investing.com\/indices\/us-spx-500-futures\" target=\"_blank\" rel=\"noreferrer noopener\">This week\u2019s Emini candlestick&nbsp;<\/a>was another consecutive bull bar closing near its high.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-follow-through\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that the odds continue to slightly favor the market to still be in the sideways to up phase. Traders will see if the bulls can get another follow-through bull bar or will the market trade slightly higher but close as a doji or with a bear body, beginning the minor pullback phase.<\/li>\n\n\n\n<li>Previously, the bulls got a reversal from a wedge bull flag (Aug 18, Oct 3, and Oct 27) and a trend channel line overshoot.&nbsp;<\/li>\n\n\n\n<li>They got a strong rally with consecutive bull bars breaking far above the 20-week EMA and the bear trend line.<\/li>\n\n\n\n<li>The move-up is in a 6-bar bull microchannel with bull bars closing near their highs. That means strong bulls.<\/li>\n\n\n\n<li>The next target for the bulls is the July 27 high, a logical area for protective stops for the bears.<\/li>\n\n\n\n<li>They hope to create a short covering spike above the July 27 high. Should it happen, bears that have covered will likely not sell again until another significant resistance above (probably above the all-time high next).<\/li>\n\n\n\n<li>If a pullback begins, the bulls want it to be sideways and shallow, with doji(s), overlapping bars and candlesticks with long tails below.<\/li>\n\n\n\n<li>If there is a deep pullback, they want a reversal up from a higher low major trend reversal and the 20-week EMA to act as support.<\/li>\n\n\n\n<li>The bears see the strong rally simply as a retest of the July 27 high.<\/li>\n\n\n\n<li>They hope that the strong move is simply a buy-vacuum test of what they believe to be a 36-month trading range high.<\/li>\n\n\n\n<li>They want a reversal from a lower high major trend reversal (with the July 27 high) or a double top with either the September 1 or July 27 high.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that the current rally is very strong.&nbsp;<\/li>\n\n\n\n<li>They will need to create strong bear bars with sustained follow-through selling to increase the odds of a deeper pullback.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick is a bull bar closing near its high, it is a buy signal bar for next week.<\/li>\n\n\n\n<li>Odds continue to slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n<li>Odds also favor buyers below the first pullback from such a strong bull microchannel. The first pullback likely will be minor.&nbsp;<\/li>\n\n\n\n<li>If there is a deeper pullback, odds slightly favor at least a small second leg sideways to up.<\/li>\n\n\n\n<li>Traders will see if the bulls can get another follow-through bull bar or will the market trade slightly higher but close as a doji or with a bear body, beginning the minor pullback phase.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Trading room<\/h2>\n\n\n\n<p>Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\">trading room<\/a>. We offer a <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: S&amp;P 500 Emini Futures The market formed an Emini strong reversal on the Monthly chart, reversing the majority of the selloff of the prior 3 months. The next targets for the bulls are the July 27 high and the all-time high. The bears see the current rally as a retest of the July [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":195255,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136,1843],"tags":[60],"class_list":{"0":"post-195172","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-sp500-emini","9":"tag-sp-emini","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-6-Bar-Bull-Microchannel-Strong-Spike.jpg","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/195172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=195172"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/195172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/195255"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=195172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=195172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=195172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}